Sector Update: Healthcare Shares Flat Pre-Market; Orexigen Sinks 5% on Private Offering


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Healthcare shares are flat in pre-market trade.

ISIS Pharmaceuticals ( ISIS ) said Monday that it has earned a $2 million milestone payment from GlaxoSmithKline ( GSK ) related to the advancement of the ongoing Phase 2/3 study of ISIS-TTR Rx in patients with familial amyloid polyneuropathy (FAP).

ISIS-TTR Rx is an antisense drug which ISIS is developing with GSK for the treatment of transthyretin amyloidosis, a severe and rare genetic disease characterized by progressive dysfunction of peripheral nerve and/or heart tissues.

And, UnitedHealth Group ( UNH ) affirmed its previous outlook for 2013 net earnings of $5.40 to $5.50 per share. The Street view is for $5.49 per share, according to Capital IQ.

UNH management says it will discuss the company's 2014 financial outlook, which includes revenues of $128 billion to $129 billion and net earnings of $5.40 to $5.60 per share, tomorrow. The Street is at $132 billion in revenue and earnings of $5.68 per share.

Finally, Orexigen Therapeutics ( OREX ), a biopharmaceutical company focused on the treatment of obesity, is down 5% in pre-market after it says it has begun a $100 million private offering of aggregate principal amount of convertible senior notes due 2020. The company expects to grant the initial purchasers a 13-day option to purchase up to an additional $15 million aggregate principal amount of such notes.

OREX intends to use the net proceeds from the offering for working capital and other general corporate purposes.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Commodities
More Headlines for: GSK , ISIS , OREX , UNH

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